There are 178 entries in the GLOSS*arama starting with the letter P.

Entries 1 through 35:

• p-e ratio
• packaging
• paper currency
• paper economy
• par value
• paradox of thrift
• Pareto efficiency
• Pareto improvement
• part-time workers
• partnership
• patent
• paternalism
• payment flow
• payroll tax
• peak
• per unit tax
• perception
• perfect competition
• perfect competition and demand
• perfect competition and efficiency
• perfect competition and short-run supply curve
• perfect competition characteristics
• perfect competition, factor market analysis
• perfect competition, long-run adjustment
• perfect competition, long-run equilibrium conditions
• perfect competition, long-run production analysis
• perfect competition, loss minimization
• perfect competition, marginal analysis
• perfect competition, profit analysis
• perfect competition, profit maximization
• perfect competition, realism
• perfect competition, revenue division
• perfect competition, short-run production analysis
• perfect competition, shutdown
• perfect competition, total analysis

Back to the GLOSS*arama

Classical economics, especially as directed toward macroeconomics, relies on three key assumptions--flexible prices, Say's law, and saving-investment equality. Flexible prices ensure that markets adjust to equilibrium and eliminate shortages and surpluses. Say's law states that supply creates its own demand and means that enough income is generated by production to purchase the resulting production. The saving-investment equality ensures that any income leaked from consumption into saving is replaced by an equal amount of investment. Although of questionable realism, these three assumptions imply that the economy would operate at full employment.

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One potential problem with any far and wide ambling tour of the economy is ambling too far or too wide. Such is the case as we find ourselves in the quaint and courteous Republic of Northwest Queoldiola. While we're here, let's take the opportunity to explore the quaint and courteous economy of the Northwest Queoldiola. Our impromptu economic expedition is faced with an immediate roadblock. I have a pocket filled with good old U. S. dollar bills, but the quaint and courteous people of Northwest Queoldiola don't trade their wares for good old U. S. dollar bills. They prefer the quaint and courteous Northwest Queoldiolan currency, the queold. All we need to do is trade my good old U. S. dollar bills for quaint and courteous queolds.
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Visit the PEDestrian's Guide

Today, you are likely to spend a great deal of time touring the new suburban shopping complex looking to buy either a wall poster commemorating the 2000 Olympics or a flower arrangement with a lot of roses for your grandmother. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?

-- Anna Pavlova, ballerina

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